Changchun Changsheng Life Sciences Limited announced a private placement of 15,102,914 shares at a price of CNY 107.05 per share for gross proceeds of CNY 1,616,766,955.83 on February 3, 2016. The transaction will include participation from existing investor, Lianyungang Huanghai Machinery Co., Ltd. On closing, the investor will retain its 100% stake in the company. As part of the transaction, the company will transfer CNY 15,102,886.09 to its registered capital and the balance of CNY 1,601,661,069.74 to its capital reserve.

The transaction was approved at the 1st meeting of the 3rd board of directors of the investor. The transaction is further subject to approval from the shareholders of the investor.